A lawsuit funding company is a lending company that specializes in lawsuit settlement funding. They evaluate each application based on the strength of the individual case and will issue money before a final verdict is reached.
Here are some important things to look for in a Lawsuit Funding Company:
Have they been in business for long?
Check their web site as well as reviews on other sites such as Yelp. You need to make sure that they are a safe and secure company that is well established.
Do they respond to y you immediately?
Make sure that the lawsuit funding company responds to your initial call or online application immediately. This shows that they are an efficient business that will deal with your case promptly.
Are they familiar with personal injury law?
Each case needs to be evaluated based on its facts and so it is essential that the lawsuit loans company is familiar with personal injury law and can do a thorough case evaluation.
Ask them about other clients they have worked with
Don't be afraid to ask for references or details of similar cases that they have worked on. If they are a good and reputable company, they will be able to provide you with this information
Look for reviews and testimonials
Check their web site and Google listing for any reviews left by previous clients. It will give you an idea of their reputation and service. You can read testimonials on their web site and ask them if you could get a reference from a previous client. A reputable lawsuit loans company will always do this.
Check to see whether they offer lawsuit funding in your state?
Not all lawsuit funding companies offer lawsuit loans in every state. It is a good idea to check their web site or call them directly to make sure that they offer lawsuit lending services in your particular state.
Are their lawsuit loan rates competitive?
It is always a good idea to call one or two other companies to get an idea of what the rates are. Stick with the ones that seem reasonable and competitive.
Are their lawsuit loans non recourse?
Make sure that the lawsuit funding company offers non recourse loans - this means that if you do not win the case, there is nothing to repay.
Do they charge broker fees?
It will save you a lot of money to go with a lawsuit loans company that does not charge broker fees. These fees can be extremely expensive and are avoided by finding the right company.